Mortgage crowdfunder Jungo authorized by financial watchdog AFM
5 March, 2021 by
Mortgage crowdfunder Jungo authorized by financial watchdog AFM
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Getting a mortgage through crowdfunding just got a little bit closer. Dutch startup Jungo received several compulsory permits of the Dutch financial watchdog Autoriteit Financiële Markten (AFM). With these, the company is allowed to procure mortgage loans .

20 percent of the loan is backed by the crowd, says Crowdexpedition, a research group looking into the added value of the collaborative economy. Consumers can join in with a minimum investment of 250 euro.

AFM allows Jungo to collect money from the crowd via its online platform, opening up a relatively new category of ‘consumer to consumer’ funding. So far crowdfunding has mainly been used to support business projects.

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